Still, the sheer volume, specifically in the bubble markets, comes as a surprise to some. “We didn’t expect to have the high volume of trades from both sellers and lenders,” says Nick Ingle, director of capital markets at the Phoenix office of Hendricks & Partners.

Two big servicers, New York-based Centerline Capital Corp., and Miami-based LNR Property Corp., also made their way on the list. “It’s an opportune time [for lenders] to sell because pricing is higher than a lot of people would have expected,” Ingle says. “When they can, they’re taking aggressive actions to dispose of these assets and move forward.”

In the distressed category, Thypin says that Lembi and Cuyahoga Falls, Ohio-based Karam Managed Properties were motivated by their banks to sell. “A lot of these are still pressured sales,” he says. “It could be that lenders feel comfortable with these properties selling now that values have improved.”

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Ben Carlos Thypin

I am currently the co-founder of Quantierra, the world's first data driven real estate brokerage and investment manager. In my former life as Director of Market Analysis at Real Capital Analytics, I worked with press outlets large and small to provide them with great data and insightful commentary. Here are some of the results of this collaboration. For the rest, please check out the News Archive.